Economy Still in ‘Recovery Mode’

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NASSAU, BAHAMAS – The Bahamas’ economy is still in recovery mode, and is expected to experience above average growth in the coming year.

The Central Bank of The Bahamas giving its quarterly update on the state of The Bahamas’ economy, Monday, noting the country is still experiencing pent up demand for travel, and the economy is not likely to contract.

Although official unemployment data was not available, according to Central Bank Governor John Rolle, he said it is expected that unemployment in the country “eased considerably” in 2022, from the deteriorated state of the previous two years. That, he explains, is due in part to the rebound of tourism.

However, Rolle noted there are still several factors impacting the recovery of the economy, including COVID-19, energy, inflation and the spill over from the war in Ukraine.